Effective promotions are a key driver of demand. But do you know how effective your promotions really are?
By combining near real-time POS data with event data, Alloy's Promotion Performance tool answers questions such as:
- Is my ongoing promotion driving incremental sales?
- Are promotion costs over or under expectations?
- How should we shape promotion strategy going forward?
- Are certain types of promotions more effective than others?
- Which promotions should be extended, cut, or repeated?
The Promotion Performance tool is a beta product. Contact CS if you're interested in learning more.
Promotion Performance Workflow
For those with access, Promotional Performance is accessible through your organization's "Events" list, which you can find under "Data" -> "Events".
If you don't have any events loaded into Alloy today, or are interested in seeing this Beta product, speak to your CS Account Manager.
Alloy automatically runs default analysis across your events, to bring you immediate insights.
To explore the analysis, and adjust analysis set-up, click on an event.
- Alloy.ai automatically calculates an estimated sales lift, by comparing to a baseline
- Scroll down to the "By Product" table to see the performance of individual products in included in the promotion
- Select "Configure Baseline" to adjust the baseline
- Select "Perform Additional Analysis" to open up the same view in a fully-configurable Alloy.ai dashboard
To create new events to analyze, select the "+" button on the top right, and click "Event":
Events can also be bulk imported via the data importer. Speak to CS for help formatting your event data.
Experiments vs. Promotion Performance
Alloy.ai has a number of tools available to analyze events in different ways.
- This article is about the Promotion Performance tool. This application is best for promotional events run across an entire retail network.
- The Experiments Tool is designed for events with a test and control group. This could be a regional merchandising event such as an end-cap, or a 'natural experiment' such as an extreme weather event.
- Dashboards provide users with flexible analysis tools to explore KPIs for any type of events.